• 2017 February 17 12:30

    Port Authority of New York & New Jersey approves largest ever $32.2 billion 10-Year Capital Plan

    The Port Authority Board of Commissioners approved the agency’s largest ever $32.2 billion 2017-2026 Capital Plan, which reflects the agency’s continuing return to its core transportation mission and is expected to generate 235,400 job years and $56 billion in overall economic activity for the region, Port Authority of New York & New Jersey said in its press release.

    The plan allows for $11.6 billion in major redevelopment projects to advance at the region’s major airports during the next decade, including the $4 billion LaGuardia Terminal B replacement, the largest transportation public-private partnership in the United States. It also provides for the advancement of work on Terminal A at Newark Liberty International Airport and the redevelopment of John F. Kennedy International Airport, under which Port Authority investments are expected to leverage billions of dollars of private sector investment.

    At the agency’s tunnels, bridges and terminals, the plan provides $10 billion to greatly enhance trans-Hudson commuting, including the construction of new facilities and the upgrading of existing ones. Funds are included to complete the $1.5 billion Goethals Bridge Replacement, being done through the first true surface transportation PPP in the Northeast. It also provides funding to complete the rebuilding of the Bayonne Bridge, a $1.6 billion project that will effectively provide a brand new bridge for travelers and remove an existing navigational impediment to allow modern ships to pass underneath it and keep the ports competitive. The plan includes $3.5 billion to begin planning and construction of a new Port Authority Bus Terminal in Manhattan and nearly $2 billion to complete the largest overhaul and rehabilitation of the George Washington Bridge ever undertaken in the bridge’s 85-year history.

    The Capital Plan also includes funding to rebuild some of PATH’s aging rail stations and to upgrade other critical rail system infrastructure to ensure safety and service reliability. Funds also are included to plan and build an extension of the PATH system from its current terminus at Newark Penn Station to the Newark Liberty International Airport Air Link Station, a project designed to improve airport access and enhance trans-Hudson commutation.

    To further address the region’s critical trans-Hudson transportation needs, the plan also provides the largest contribution of any stakeholder to date — $2.7 billion — for the critical trans-Hudson rail tunnel link between New York and New Jersey and Portal Bridge North projects. The contribution will pay debt service on expected borrowing by the Gateway Program Development Corporation from low-interest federal Railroad Rehabilitation and Improvement Financing loans.

    The 10-year plan will accelerate the rebuilding of the region’s aging infrastructure by leveraging billions in private sector dollars including through public-private partnerships on major transportation and terminal projects, including those at the airports and bridges. The plan’s multi-billion investment is expected to result in the creation of 235,400 job years, $20 billion in total wages and $56 billion in overall economic activity.

    The approval followed a month-long public comment period – including two first-ever public meetings in each state that were attended by commissioners and agency leadership. Prior to the Board’s vote to move the proposed plan forward on January 5 for public comment, there was robust debate and discussion by Board members over how to parcel out limited resources to the agency’s growing list of capital investment needs.

    Since the Board’s January 5 meeting, the agency received 429 comments on its plan from 365 individuals. Fifty-five speakers attended the public meetings in both states to comment on specific items in the document and 9 people Tweeted comments about it. An additional 327 comments were emailed and 12 comments were received by mail. The Board of Commissioners received periodic summaries of the public comments prior to today’s Board meeting.

    The 10-year plan approved today includes $29.5 billion in direct spending on Port Authority projects and the $2.7 billion commitment to support debt service on the Gateway passenger rail tunnel project.

    The plan outlines specific funding commitments for major capital projects the agency will invest in over the next 10 years. All projects remain subject to Board authorization processes, and, before they proceed, are subject to a rigorous “gates” review process before they proceed that look at agency revenue and the ability to finance them.




2017 February 21

14:51 Vyborg Shipyard to deliver second icebreaking support ship intended for Novy Port in May 2017
14:20 Port of London Authority to discuss 20 year growth plan for the Thames river
14:02 CMA CGM announces GRR from India to West Africa
13:41 Bunker prices go down in the Far East ports of Russia (graph)
13:10 New Times Shipbuilding holds naming ceremony for two oil tankers and announces delivery of cargo lake ship
12:55 Yamal major landing ship of RF Navy's Black Sea Fleet returned to Sevastopol from the Mediterranean Sea (photo)
12:39 IAA PortNews offers a photo release from the 4th International Forum of Dredging Companies
12:23 KCA Deutag secures platform drilling contract with Sakhalin Energy
12:10 Intermodal Asia to launch the Industry Leaders Strategy Summit in Shanghai on 21st – 22nd March 2017
11:44 Delivery of icebreaker Ilya Muromets scheduled for autumn – RF Defence Ministry (photo)
11:30 Kelvin Hughes to supply radar systems for the Royal Navy’s latest River-class OPVs
11:16 Allseas Group will build the second string of TurkStream
11:03 De Boer Remorquage SARL orders two custom tugs from Damen
10:42 MHI-MME retrofitted 80 LNG carriers for running on low sulfur fuel
10:24 GTT to equip yet another FSRU with its cryogenic membrane containment system
10:18 Sydney City Marine completes its first maintenance docking of a Damen vessel
10:03 Brent Crude futures price down 0.05% to $56.15, Light Sweet Crude – down 0.41% to $54
09:59 “K” Line (India) becomes member of Indian National Shipowner’s Association
09:45 Baltic Dry Index up to 757 points
09:31 HII Executive VP and General Counsel inducted into Women’s Leadership Institute
09:17 Throughput of NCSP Group in January 2017 up 6.4% to 12.7 mln t

2017 February 20

18:26 ECSA deplores that port and cargo interests condone regional measures
17:59 Sea transport of Sevastopol carried 390,600 passengers in January 2017, down 10%, Y-o-Y
17:31 Period of icebreaker services is over in the Kerch Strait
17:06 Maersk Line increases rates from North Europe to Far East
16:44 USPA to expand range of tenderers for port infrastructure development
16:23 Ships of RF Navy’s Baltic naval base are preparing for a planned combat mission in the sea
16:00 ITF condemns Ukrainian wage slash offer
15:57 Fincantieri and Ferretti announce a cooperation agreement
15:46 Cargo traffic via Nika-Tera terminal (Ukraine) in January 2017 up 2-fold Y-o-Y to 330,500 t
15:20 HH Ferries Group takes visible steps on path to battery operation
14:58 Preparations are underway in New York ahead of June’s UN Oceans Conference
14:35 IMO training in Malaysia has seen port State control officers practice inspecting air pollution and energy efficiency rules
14:12 Icebreaker Voima set out to help vessels in the Gulf of Finland
13:47 Container throughput of port Hong Kong (China) up 3.5% to 1.73 mln TEUs in January 2017
13:23 Average wholesale prices for М-100 HFO down to RUB 11,226 in RF spot market
13:00 Evoqua Water Technologies supports Conference “Implementation of the BWMC in Russia” as its Sponsor
12:39 Port of Singapore throughput up 10% to 50.54 mln t in January 2017
12:36 Hyundai Global Services enters into eco-friendly ship services business with KSS Line
12:21 Newbuilding programme of Krasnoye Sormovo covers a two-year period with cruise liner PV-300 to be laid down in March – USC
11:55 Throughput of port Primorsk up 11% to 5.63 mln t in January 2017
11:48 Fire on Korean fishing vessel at port of Cape Town under control
11:27 Rolls-Royce showcases MTU drive and propulsion solutions for naval vessels at IDEX, NAVDEX 2017
11:02 RF Government signs Decree on expansion of Taman seaport (Krasnodar Territory)
10:58 Swedish Dockworkers Union agrees to call off all industrial action in the Port of Gothenburg
10:40 FAS Russia and container carriers will develop common rules and principles of behavior in shipping market
10:19 Gastops to provide DRA for USCG's offshore patrol cutter
09:57 Brent Crude futures price up 0.20% to $55.91, Light Sweet Crude – up 0.17% to $53.87
09:38 Sredne-Nevsky Shipyard completed first phase of Project R1650 Rondo boat construction (photo)
09:16 Baltic Dry Index down to 741 points

2017 February 19

08:55 Three Gorges Dam congestion caused by annual maintenance and COSCO Shipping Lines’ countermeasures
07:10 Gazprom’s exports to Germany add 37 per cent between February 1 and 15
07:07 Golar LNG coses $402.5 mln of 2.75% convertible senior notes
07:06 Hapag-Lloyd announces General Rate Increase from East Asia to East Coast of South America

2017 February 18

16:35 Boskalis subsidiary VBMS awarded inter-array cabling contract for EnBW Hohe See OWF
16:32 Dryships enters into $200 mln common stock purchase agreement with Kalani Investments
11:31 Color Line and Ulstein sign contract for building the world's largest plug-in hybrid vessel
11:30 Spanish strike actions suspended

2017 February 17

18:14 Throughput of port Vysotsk up 32% to 1.59 mln t in January 2017
17:56 Atomflot says construction of Leader icebreaker should be started in 2021